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Business Quick Take

■ Chip Makers
Chartered to expand
Chartered Semiconductor, the world's third largest chip foundry, said on Friday it will spend US$400 million this year on its new 12-inch wafer fabrication plant. Chartered will spend another US$700 million to US$800 million to ramp up capacity at the same plant, Fab 7, next year, Chief Executive Officer Chia Song Hwee said. The Singapore company has so far spent US$290 million on the plant -- estimated to cost US$3 billion when completed -- which will help Chartered to mass produce next-generation chips. Computer chips are etched onto the wafers of silicon. Thinner lines are etched on the 300mm wafers than the previous standard 200mm wafers, allowing the chips to run faster and use less electricity.

■ Trade
Cross-strait trade up 22.7%
Two-way trade between Taiwan and China amounted to US$3.948 billion in January, an increase of 22.7 percent over that of the previous year, according to statistics released Friday by the Bureau of Foreign Trade under the Ministry of Economic Affairs. The statistics show that Taiwan's exports and imports to and from China registered US$2.9 billion and US$1.048 billion in January, respectively, up 22.7 percent and 19.3 percent year-on-year.

■ Automobiles
Japanese production up
Production of cars, trucks and buses in Japan rose last month for the first time in four months on the back of new-model launches, an industry group said Friday. Production increased 1.3 percent on year to 913,561 vehicles, the Japan Automobile Manufacturers' Association said. Domestic vehicle demand last month totaled 535,240 units, up 1.8 percent from the same month a year earlier. But Japan's exports of cars, trucks and buses fell 1.0 percent last month from the same month last year to 390,012 vehicles, the association said. The decline came as falls in exports to the US and the EU offset shipment growth to Asia. Exports fell 2.2 percent in January.

■ Airlines
Singapore Air adds routes
Singapore Airlines will begin flying to China's eastern city of Nanjing three times a week, the carrier announced Friday. Nanjing will be the airline's fifth destination on the mainland with services starting today, an airline statement said. The carrier already flies to Beijing, Shanghai, Guangzhou and Shenzhen. Increasing numbers of Chinese tourists are making Singapore a holiday destination, with Chinese visitors a leading contributor to the city-state's monthly arrival totals. Singapore Airlines was forced to drastically cut back flights last year because of a regional travel slump brought on by an outbreak of SARS, but passenger numbers have rebounded strongly over the past few months.

■ Automobiles
Ssangyong talks collapse
China National Bluestar Corp has denied that talks on its takeover of South Korea's troubled Ssangyong Motor Company have collapsed, state press reported Friday. "It is not the time to say that we have finally abandoned the acquisition, although we disagree with Ssangyong on a number of issues," the China Daily quoted Bluestar spokeswoman Li Anqing as saying. Creditors of Ssangyong agreed earlier this week to strip Bluestar of its preferred bidder status in the sale of South Korea's fourth largest automaker, which specialises in sports utility vehicles and large sedans.

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